US President Trump imposed sanctions on Turkey over Syria Invasion. He signed the executive order imposing the sanctions on Monday night (14-October 2019). EU Nations also met in Luxembourg on Monday and banned all Arms Exports to Turkey. They also considered placing sanctions on Turkish Oil drilling companies. After Monday’s Stock Market crash in Turkey, the fresh sanctions are expected to further crash the Turkish stock market and put pressure on its currency LIRA.
Pakistan may face an arbitration case from its neighbor Iran, over the $7 billion stalled Iran Pakistan Gas Pipeline Project. As per the reports, Pakistan hired a French law firm, Gide Loyrette Nouel to look at options to deal with an Iranian threat to bring international court action against Islamabad over missed construction deadlines and see if the project can be completed without attracting US sanctions and to explore ways of avoiding being hit with a multi-billion-dollar bill for failure to complete its side of a gas pipeline project with sanctions-hit Iran.